The United Kingdom announced a new set of restrictions targeting crypto exchanges, banks and payment networks accused of aiding Russia to evade western sanctions.

Scope of the measures

Authorities designated a group of platforms and intermediaries, aiming to disrupt the channels used for cross-border flows linked to crypto and related services.

• HTX (formerly Huobi).
• Payment networks connected to the Russian market.
• Banks based in Kyrgyzstan.
• Companies registered in Georgia and the UAE.
• Infrastructure associated with A7/Garantex.

Legal consequences

The measures authorize freezing of assets belonging to the listed entities and prohibit British firms from executing payments or providing banking services to them.

Authorities' rationale

Reuters reported that British officials described the package as an attempt to target the broader infrastructure through which funds moved, including crypto, over‑the‑counter trading and foreign financial intermediaries.

The announcement reflects a shift from targeting individual platforms toward measures designed to limit entire networks that may facilitate sanctions circumvention.